New Zealand Gazette – 2003 – No. 106

Page 2800

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 106

2003 2002
$ $
d) Employee Salaries and Redundancies 1,332,860 1,337,857
e) Consumer billing and information system expense 0 0
f) Depreciation on-
    i) System fixed assets 2,918,427 2,620,462
    ii) Other system assets not listed in (i) 307,987 309,105
Total Depreciation 3,226,414 2,929,567
g) Amortised of-
    i) Goodwill 0 0
    ii) Other Tangibles 0 0
    iii) Total amortisation of Intangibles 0 0
h) Corporate and Administration 297,150 266,529
    i) Human Resource expenses 19,400 18,141
j) Marketing and advertising 35,077 21,598
k) Merger and acquisition expenses 0 0
l) Takeover defence expense 0 0
m) Research and development expenses 0 0
n) Consultancy and legal expenses 23,774 92,089
o) Donations 0 0
p) Directors fees 170,284 187,322
q) Auditors fees-
    i) Audit fees paid to principal auditors 17,260 15,357
    ii) Audit fees paid to other auditors 0 0
    iii) Fees paid for other services provided by principal and other auditors 0 0
    iv) Total auditors fees 17,260 15,357
r) Cost of offering credit-
    i) Bad debts written off 3,773 6,506
    ii) Increase in estimated doubtful debts 0 0
    iii) Total cost of offering credit 3,773 6,506
s) Local Authority rate expense 84,781 20,634
t) AC loss - rental rebates (distribution to retailers) expense 0 0
u) Rebates to customers due to ownership interest 2,936,582 4,948,042
v) Subvention payments 0 0
w) Unusual expenses 0 0
x) Other expenditure not listed in (a to x) 61,099 68,332
Total Operating Expenditure 14,529,652 15,090,463

Operating surplus before interest and income tax | 2,657,385 | 993,584 |

Interest Expense

| a) Interest expense on borrowings | 940,203 | 243,628 |
| b) Financing charges related to finance lease | 0 | 0 |
| c) Other interest expense not listed in (a to b) | 775 | 0 |
| d) Total interest expense | 940,978 | 243,628 |

Operating surplus before income tax | 1,716,407 | 749,956 |

Income Tax | 1,373,171 | 1,022,471 |

Net Surplus after tax | $343,236 | $(272,515) |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 106


Gazette.govt.nz — PDF NZ Gazette 2003, No 106




✨ LLM interpretation of page content

🌾 Certification of Financial Statements for Electricity Ashburton Limited (continued from previous page)

🌾 Primary Industries & Resources
30 July 2003
Financial statements, Certification, Electricity Ashburton Limited, Audited, Compliance